What are the users of accounting information, the objectives of a trial balance, and how do you calculate closing retained earnings?

Welcome back — missed you this week. 1. Users of accounting information: Investors* Creditors* Management* Government agencies* 2. Objectives of trial balance: To check the arithmetical accuracy* of ledger accounts. To help in locating errors*. To provide a basis for preparing final accounts*. To summarize all ledger balances* in one statement. 3. Step 1: Identify the formula for Closing Retained Earnings. Closing Retained Earnings = Opening Retained Earnings + Net Profit - Dividend Paid - Profit Transfer to Sinking Fund - Profit Transfer to General Reserve Step 2: Substitute the given values into the formula. Closing Retained Earnings = Rs. 20,000 + Rs. 40,000 - Rs. 15,000 - Rs. 6,000 - Rs. 14,000 Step 3: Calculate the closing retained earnings. Closing Retained Earnings = Rs. 60,000 - Rs. 15,000 - Rs. 6,000 - Rs. 14,000 Closing Retained Earnings = Rs. 45,000 - Rs. 6,000 - Rs. 14,000 Closing Retained Earnings = Rs. 39,000 - Rs. 14,000 Closing Retained Earnings = Rs. 25,000 The closing retained earnings are: Rs. 25,000 Send me the next one 📸